Ходжа Н. (hojja_nusreddin) wrote,
Ходжа Н.

3 things prevented a total meltdown in 2008

1. There was less debt than today
- about $8 trillion less in America, and
- about $57 trillion less worldwide

2. The world economy was still in growth mode
- China was still growing (at least according to the official figures) at 8% a year
- Commodities were becoming more expensive.
- There were still many areas in which investment was paying off.

3. The Fed still had some ammunition to fight the downturn
- Short-term interest rates were at 2%.
- Now, it has been at the “zero bound” for 6 years.

Tags: американа, банкстеры, кризис, экономика

Posts from This Journal “кризис” Tag

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